Crypto enthusiasts, here's the lowdown on inverse futures contracts! Unlike conventional futures, inverse futures contracts benefit the seller when prices drop. The contract value is denominated in a fiat currency or stablecoin like USDT, with an inverse relationship between profit and loss and the underlying crypto's price movement.

Think of it as a derivative priced in USD but settled using the underlying crypto. For instance, the BTC/USD pair's market price is determined in USD, but the profit and margin are calculated in Bitcoin.

In contrast, linear futures contracts are settled in a stablecoin, while inverse futures contracts are settled in the underlying crypto. Inverse futures contracts offer advantages like long-term stack-building, leverage in bull markets, and hedging without converting holdings into stablecoins.

However, they come with risks like market volatility, counterparty risks, and liquidity concerns. So, tread carefully, crypto traders!

Curve Finance's soft liquidation mechanism passed a real-world test during a recent hacking attempt, despite the native token CRV's price dropping over 28%. The mechanism, part of Curve Finance's Lending-Liquidating Automate Market Maker Algorithm (LLAMMA), ensures liquidations occur without resulting in "bad debts". However, the market reacted negatively to the event, with the CRV price falling significantly. This follows previous coverage on Curve Finance's underlying "systemic risks", particularly concerning founder Michael Egorov's debt obligations.

Bitcoin (BTC) is currently in its longest consolidation period, lasting 92 days and counting. Analysts suggest this could be a precursor to a significant upside rally. The current consolidation period is the longest in Bitcoin's history, and once it breaks, a massive rally is expected. In previous cycles, even shorter consolidation periods led to new all-time highs. For instance, a 21-day consolidation period after the 2020 Bitcoin halving led to an all-time high of $69,000 in November 2021. Bitcoin is currently trading at $67,413, and some analysts predict the consolidation could extend until September or October.

Bitcoin whales scooped up 20,600 BTC, worth $1.38 billion, during the Bitcoin price dip on June 11, marking the largest inflow day since February 28, according to CryptoQuant. This comes as Bitcoin's supply on crypto exchanges drops to its lowest since December 2021, often a sign of a strengthening market. Meanwhile, Ethereum whales have also been busy, buying over 240,000 Ether, worth nearly $840 million. However, unlike Bitcoin, the supply of Ether on exchanges has increased recently. Bitcoin is currently trading at $67,500, still 8.45% down from its all-time high.

Despite the Federal Reserve's "hawkish tone", technical analyst CryptoCon predicts Bitcoin (BTC) will soon surge almost 25% above its all-time high of $73,679. Using the "Magic Bands" model, CryptoCon suggests that Bitcoin will reach $91,539, followed by a cycle peak of $123,832. This model predicts future prices based on previous cycle peaks and bottoms. Despite concerns over the Fed's aggressive stance to control inflation, CryptoCon remains confident in Bitcoin's potential growth. This prediction comes as Bitcoin's current price stands at $68,315, according to CoinMarketCap data.

Bitcoin mining stocks saw a significant surge, with some soaring double digits, following a pledge by US presidential candidate Donald Trump to boost mining operations in the country. In a recent meeting with industry leaders, Trump expressed his desire for all remaining Bitcoin to be "MADE IN THE USA!!!" and promised to support the sector if elected in November. Among the top performers were TeraWulf and Hut 8 Mining, with increases of 10.5% and 10.07% respectively. The industry's market cap was boosted to $26.4 billion, despite Bitcoin itself only rising 1.4% to $68,365.

The Open Network (TON), formerly known as Telegram Open Network, is making strides in the blockchain industry. After Telegram stepped back due to regulatory issues, an independent community took over, pushing for the adoption and development of TON. The platform has begun diversifying beyond messaging, resembling a "super app" like WeChat. It allows restaurants to establish "mini apps" within Telegram, making their websites obsolete. These mini apps have integrated payment solutions, normalizing crypto transactions. TON's integration ensures transparency and security for each payment. The platform aims to simplify crypto payments, making them as easy as messaging. However, challenges lie ahead, including the need to build lasting connections with other blockchains.

Bitcoin layer-2 projects are under scrutiny as experts debate whether they truly deserve the classification. With 73 Bitcoin scaling solutions currently under development, the term "layer 2" is contentious due to the structure of most self-proclaimed Bitcoin layer 2s being more similar to a sidechain. Bai Yu, head of CKB Ecosystem Fund, argues that the term L2 for sidechains is simply a marketing tactic. A true L2 should operate on top of the base layer, inheriting its security, while a sidechain is a separate blockchain with its own security model. This distinction could become crucial if the security of users' funds is threatened by new vulnerabilities of scaling solutions that don't exist on the native Bitcoin chain.

Blockchain adoption is on the rise among Fortune 100 companies, with a 39% increase in crypto, blockchain, and Web3 initiatives in Q1 2024, according to Coinbase's latest report. The study also revealed that 56% of Fortune 500 executives are working on blockchain projects, with an average budget of $9.5 million. Real-world asset tokenization is a significant driver of this trend, with $63 billion of Bitcoin under management in ETFs and tokenized U.S. Treasury bills increasing 1,000% in value to $1.29 billion since 2023. However, the U.S. lags behind in blockchain adoption due to a talent shortage, with only 26% of crypto developers based in the country.

Riot Platforms, a cryptocurrency mining firm, has hit a snag in its plans to acquire Bitfarms. Riot's CEO, Jason Les, opposes Bitfarms' recent 'poison pill' strategy, which aims to prevent Riot from acquiring more than a 15% stake in the company. Riot currently holds a 13.1% stake, having purchased six million common shares of Bitfarms in three separate trades. Les argues that the Bitfarms plan conflicts with established legal and governance standards by lowering the threshold to 15% instead of the usual 20%. Riot had offered to acquire Bitfarms for $950 million in May.

Bitcoin (BTC) bounced back to $69,000 on June 12 after a dip to $66,000 the previous day due to macroeconomic uncertainties, miner selling pressure, and outflows from spot exchange-traded funds (ETFs). The US inflation data set a positive stage for risk-on assets like Bitcoin, pushing the S&P 500 to a record high. Traders are now speculating if Bitcoin can cross the $72,000 mark. The derivatives market seems to support this possibility. However, Bitcoin’s trajectory will largely depend on institutional inflows. Concerns are also rising that miners may dictate BTC price trends. On June 10, Marathon Digital sold 1,000 BTC, valued at nearly $70 million, negatively affecting investor sentiment towards Bitcoin.

Bite-sized Crypto News: McDonald's launches "My Happy Place" metaverse in Singapore, offering virtual burgers and digital collectibles. South Korea's Financial Services Commission classifies mass-produced NFTs as virtual assets. Three individuals linked to the "Evolved Apes" NFT scam face charges in the U.S for wire fraud and money laundering. Bitcoin-based NFTs drive an 18.9% surge in weekly NFT sales volumes, reaching $147.3 million. Polygon, Immutable, and Blast show double-digit growth as top blockchains. Stay tuned for more crypto updates!

Eigen Labs, the firm behind the EigenLayer protocol, has acquired restaking platform Rio Network. The deal will make Rio's intellectual property code open source. Eigen Foundation is taking over Rio Network's intellectual rights, including its liquid restaking token (LRT) technology, which will be incorporated into the EigenLayer ecosystem. The Rio team will now join Eigen Labs, focusing on developing EigenLayer. Both EigenLayer and Rio Network aim to optimize the use of staked assets, with EigenLayer allowing users to secure additional blockchains with their staked assets, while Rio offers a liquid representation of staked assets. The deal's value was not disclosed.

MultiversX, a distributed blockchain network, has partnered with eCornell, Cornell University's online learning platform, to launch the Blockchain Essentials Program. This free initiative offers 100 economically disadvantaged college students a two-month online blockchain education. Successful participants will receive a certificate and potential mentorship, support, and funding from MultiversX for community-beneficial blockchain projects. The program, which normally costs $3,750, will start on July 17, 2024, with applications open until June 23, 2024. In related news, MultiversX recently unveiled "Sovereign Chains," a tool to boost blockchain development and transaction throughput.

Bitcoin "whales" are back in action! Accumulation by these big players, who hold at least 1,000 BTC, has hit a four-year high, reminiscent of the pre-2020 bull run. Bitfinex analysts suggest factors like an anticipated interest rate cut and increased institutional buying could fuel Bitcoin's upward momentum. Meanwhile, Bitcoin has confirmed the $66,000 mark as its new support on the weekly chart. However, Bitcoin price has been stuck due to the distribution of older coins. Analysts suggest we need to wait for a market 'reset' before we see the $65,000 - $70,000 range become a base.

Bitcoin's price has rallied following lower than expected U.S. Consumer Price Index data. The recovery from the $66,000 level indicates that bulls are buying near strong support levels. Meanwhile, Japanese firm Metaplanet has been using Bitcoin’s sideways price action to build its treasury, disclosing a purchase of 23.25 Bitcoin, taking its total to 141.07 Bitcoin. Other cryptocurrencies have seen mixed fortunes, with Ether, BNB, Solana, XRP, Dogecoin, Toncoin, Shiba Inu, Cardano, and Avalanche all experiencing fluctuations in their prices. Traders are closely watching the market for the next big move.

Chainlink's CCIP interoperability protocol and Automation services have been launched on the Gnosis network, enabling users to utilize Chainlink for cloud computing tasks and reduce gas fees by up to 90%. The CCIP protocol will also allow Gnosis users to send messages and swap value across blockchains. This move is part of Chainlink's ongoing efforts to establish its CCIP protocol as the industry standard for cross-chain communication and interoperability. Chainlink has also recently partnered with Rapid Addition and Arta Techfin, and integrated with the Ethereum layer-2 network Celo, further solidifying its industry standing.

Pepe (PEPE) cryptocurrency has bounced back 17.85% after hitting a local low, with trading volumes also on the rise. Analysts predict a bullish outlook for PEPE, with a potential 50% price increase by the end of June. The price is currently hovering around the lower trendline of its rising wedge pattern, hinting at a 70% gain. Large investors' continued accumulation and holding behavior also signal market confidence. Smaller holders have been actively accumulating during price dips, indicating increased participation and confidence among retail investors. The potential rally is also bolstered by expectations that the Federal Reserve may cut interest rates in September.

The Artificial Superintelligence Alliance (ASI), a collaboration between decentralized platforms SingularityNET, Fetch.ai, and Ocean Protocol, has postponed its token merger to July 15. Despite the delay, Ben Goertzel, CEO of SingularityNET and ASI, remains optimistic about the future, predicting "superhuman superintelligence" within a few years. The delay is due to the need for more technical and logistical preparations, but it doesn't affect the progress made towards creating a decentralized superintelligence network. The merger aims to unify the efforts of all three AI and blockchain projects to develop decentralized artificial general intelligence (AGI).

Bitcoin (BTC) is back to circling $67,500 after a crypto-wide rout led to significant exchange withdrawals. The BTC price had dropped to $66,000 the previous day, sparking long liquidations of over $50 million. This pattern is familiar, often seen before Federal Reserve meetings on interest rates. Some traders are predicting a potential further drop to $60,000 unless market dynamics change. Meanwhile, on-chain data shows ongoing exchange withdrawals, with the largest U.S. exchange, Coinbase, particularly in focus. The total BTC balance on Coinbase Pro was down 14,420 BTC ($972 million) in the 24 hours to June 12.